According to Angel Commodities, expect MCX copper prices to trade sideways today.
Angel Commodities' report on Copper
LME Copper prices fell by 0.3 percent to $5556/t yesterday, as the National Statistics Bureau data showed China’s refined copper output rose 8.5 percent in March from a year ago to 764,000 tonnes, it’s highest since at least December 2015.
LME Copper prices are currently trading higher by 0.3 percent at $5574/t. Prices are expected to trade sideways today as investors will be at the sidelines ahead of French elections this weekend. Also, geopolitical concerns will limit risk appetite. We expect MCX copper prices to trade sideways today.
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